• Successful first financial year with a positive performance by the portfolio:
  Ina Invest achieved an EBIT of CHF 5.3 million and exceeded expectations with a profit of CHF 3.9 million
   
• Encouraging business performance: first acquisitions made
   
• Current project developments on track
   
• Value of the real estate portfolio rose by 42% to CHF 366 million
   
• Outlook: plans for growth and implementation of an ambitious sustainability strategy

Zurich, 26 February 2021 - Having been listed on the SIX Swiss Exchange in June 2020, it was a successful first financial year for the Swiss real estate company Ina Invest in a dynamic market environment dominated by the Covid-19 pandemic. With a profit of CHF 3.9 million, Ina Invest exceeded its own expectations for the reporting year. The positive performance of its portfolio demonstrates how investments in sustainable real estate assets in key Swiss economic centres are still in demand. Profits associated with revaluation and acquisition were the main factors in the positive annual results.

Successful first financial year with a positive performance by the portfolio
Despite one-off initial costs arising from the IPO on 12 June 2020, Ina Invest achieved a very encouraging EBIT of CHF 5.3 million and a profit of CHF 3.9 million for its first financial year. The profit from the revaluation of its investment properties in the amount of CHF 9.6 million underscores the quality and potential of the existing portfolio and proves that Ina Invest's investment strategy is working. This envisages a portfolio with a 50/50 split between residential properties and commercial real estate, with investment restricted to urban areas only. This strategy will ensure that Ina Invest can maintain a well-diversified portfolio that puts it in a solid position going forward. The portfolio value rose by CHF 109 million to CHF 366 million, which represents growth of 42% and thereby underscores the ambitions of Ina Invest.

Encouraging business performance: first acquisitions made
An efficient and trusting working relationship has been established within Ina Invest's Board of Directors. Its strategic partnership with Implenia in the areas of acquisition, development, execution and asset management has also proven its worth many times over. In the early months of the partnership, the companies made a large acquisition in Geneva worth over CHF 50 million. Ina Invest intends to transform this commercial property with existing rental income into a future-oriented hybrid residential property to take full advantage of the potential of its location close to the railway station in Cornavin.

Besides these acquisitions, which also come with initial rental income of around CHF 2 million per year before development, initial project financing on attractive terms has been secured with banks for the ongoing building projects. As a result, operating performance has made a substantial contribution to the positive annual results in just the first year.

Current project developments on track
Ina Invest currently has three projects at the execution stage. The construction of the 'Tender' and 'Elefant' projects in the Lokstadt area of Winterthur and the hotel in the BaseLink area of Allschwil began on schedule in 2020. A significant marketing success was also achieved with the 'Tender' complex. Two-thirds of the 39 shell apartments have already been reserved, with the first sets of paperwork being completed in December 2020. Both the 'Elefant' complex and the development in Allschwil are investment properties that could be fully let before the foundation stones were even laid. The expected rental income is CHF 5.6 million per year.

The other project developments are also on track. In Baar, the Unterfeld development plan was accepted by a large majority of the electorate, and things are also moving forward in Geneva. The layout design for the planned residential developments in Onex has been approved. These projects can now enter the next phase.

Outlook: plans for growth and implementation of an ambitious sustainability strategy
Ina Invest expects the economy as a whole to recover in 2021. It believes the future prospects for real estate investments in urban centres are very positive too. Ina Invest will therefore focus on growth on this area in the current financial year. At the heart of this will be the further development and construction of its existing development portfolio and a focus on new acquisitions. Besides the current successes in terms of development, the 'Rocket' project in the Lokstadt area is set to become a flagship project for Ina Invest and a symbol of Lokstadt and the city of Winterthur. As part of the 'Rocket' project, the company plans to create the world's tallest wooden residential building at 100 metres high.

Ina Invest is also working hard on its vision of maintaining and continuously developing the most sustainable real estate portfolio in Switzerland. 'We believe in hybrid properties and are designing our portfolio to ensure that the properties adapt to demand and can be used for a variety of purposes,' says CEO Marc Pointet. 'We consistently put people at the heart of what we do and want to create diverse and inspiring spaces for them to live, work and spend their leisure time in.' With the aim of undergoing its first GRESB¹ benchmark assessment in 2021, Ina Invest will continue to push forward with implementing its ambitious sustainability strategy. The company sees sustainability as not only an economic, environmental and social necessity but also as a driver of innovation and a key distinguishing feature of its portfolio: sustainability is in Ina Invest's DNA.
 

As already communicated, Ina Invest does not plan to distribute any dividends for the year 2020

The 2020 Annual Report can be found at: https://report.ina-invest.com/2020/

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Contact for investors
Marc Pointet, CEO
T +41 44 552 97 17
investors@ina-invest.com

Contact for media:
Corporate Communications
T +41 44 552 97 27
communications@ina-invest.com

Ina Invest is a Swiss real estate company created from the spin-off of half of Implenia's development portfolio. Ina Invest is developing this initial set of projects in order to build up a portfolio of profitable properties, while continuing to make acquisitions to secure future growth. The properties have a varied usage profile, with a primary focus on residential developments, and are in very good locations all over Switzerland. Ina Invest plans to continue investing in and growing its portfolio. Thanks to its transparent collaboration with Implenia, Ina Invest benefits from the expertise of Switzerland's leading construction and real estate services provider. In the development and management of its portfolio, Ina Invest maintains the highest sustainability standards by taking a holistic view of the entire value chain and integrating sustainability across all phases. The company is listed on the SIX Swiss Exchange (INA, CH0524026959). More information can be found at ina-invest.com.